Market Overview Analysis by Jeffrey Roach covering: . Read Jeffrey Roach's latest article on Investing.com
The U.S. Postal Service saw a downshift in change-of-address requests as labor markets shift and households are less likely to move and that’s impacting residential real estate.
Housing affordability is hovering around the lowest since the Great Financial Crisis as the market is in short supply of homes.Is the Reshuffling Now Over? Soon after the pandemic, home sales rebounded across the country, but the southern region experienced the largest spike in activity as households relocated, but sales even here trended lower in recent months.were 3.89 million units annualized. The decline is greater compared to a year ago, or pre-pandemic. In 2019, the pace of existing home sales hovered above 5 million.
The low supply of homes and high interest rates depressed affordability to near-term lows. Because of the tight supply of homes available for sale, median prices continue to trudge higher. We should not expect that dynamic to improve until mortgage rates drop and supply increases.
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